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tv   After the Bell  FOX Business  February 9, 2015 4:00pm-5:01pm EST

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pulling back. david: as we are looking at, it was a triple-digit loss in the dow, now a double-digit loss. liz: here come the bells ringing monday on wall street, and after that, look how stocks finish up. when you see that the dow jones industrials is down give or take 97 points. at one point we were down 114 points in the last hour, a little bit of coming up off the floor. the s&p down 8. it was a lot worse earlier, down half a percent. the russell down nearly a full percent on the day, when it was the international news that grabbed the spotlight. let's get to it. "after the bell" starts right now. . david: so much action going on, we haven't had a chance to show you some of what's coming up on the show. you don't want to miss our exclusive interview with dallas fed president richard fisher.
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whether the fed has been too aggressive. why they haven't raised rates? and are they hurting the banks and should the fed itself be out? richard fisher is dead set against it. we'll explain why. liz: that will be the second of a one-two punch, maria had him earlier today. david: you don't want to miss it. liz: bob landry of usaa is cautious on u.s. equities, you heard liz sanders of charles schwab saying you want to look elsewhere. he says it's due to valuation. kim forest from fort pitt capital why she's moving to a sector and dan in the pits of the cme. you get to run with it, whether greek soccer ball or the issue in ukraine, what do you think pulling the markets down? >> absolutely greece. the russian thing certainly a worry. there's a lot of fear with greece whether they force them into negotiation or how that's
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going to work out. it's not so much -- if greece were to go away from the eurozone quietly,ed it would be already. there's the fear of the what if's after that. if greece goes, is it going to cause a domino to fall after that? that's what's pressuring the market. it hasn't been panic selling. we didn't go down that much, and it's not very aggressive. they are loosening up before the big wednesday meeting. david: all right, kim, richard fisher coming on. he is leaving the dallas fed, this is an audition for you to be head of the dallas fed by the way. >> wow. david: i'm going to see how you would respond. a couple of good jobs reports, several good jobs reports, wages up in the last one, that's good news. isn't it beyond time at which the fed should raise rates given its mandates? >> well i don't think i'll be up for that job because i think we should unwind this a lot longer ago. david: you think we should have
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raised rates in 2004 now? >> or not lowered them as much. that is water under the bridge, isn't it now? turning to your question. i think the fed indicated they are wanting to be seen as data driven, so given these much higher, you know, the wages are going in the right direction, jobs look like they're catching, you know, traction here. i wouldn't be surprised if we see an increase in rates, very nominally later in the year, because of data drivenness and see what he says about this. i'm fascinated. i know i'll be tuning in for the two segments. liz: amen, yes! it's going to make news and give people a sense what may lie ahead. bob, whether it's the federal reserve or perhaps simply that the market is overvalued, you believe that maybe valuations are a little rich in the united states. people are watching saying, do i stay in equities or get out
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or hold the course? >> well, overall, we think that u.s. equities are probably pretty fairly valued here, whether you look at any number of measures, whether it's forward earnings, trailing earnings, the shiller base measure of longer term earnings. that said, we believe that there are plenty of attractive stock picking opportunities. liz: overall, if the s&p is price-to-earnings ratio is 17 times forward earnings is historically appropriately valued or even rich, you say look for the cheaper names that are of great value, so you have to become a stock picker? >> exactly. you are not going to see the returns i would have seen in recent years, last year up 14%. you have to temp expectations somewhat and expect u.s. stocks maybe to be up somewhere in the single digits this year. david: dan, i understand foreign news weighed heavily on the market today, but we have retail sales numbers, domestic
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retail sales numbers coming up later this week. isn't that going to be more important to traders than what's happening overseas? >> you know ultimately it should be, because we have all the other issues, it isn't. retail sales is a big number this week, a bit squishy of late. looking for .5% food and gas, if you add that up with the other economic numbers they've had, they've been decent. when you put europe in front of this and the uncertainty of what's going to come out of the number, you're not going to see a lot of advance from it. david: interesting. liz: i like what he said. i think that make a lot of sense. doesn't matter it should be a good number, it might not be due to the headline risk, kim. let's get to, i know you're the type of person that's been in this race a long time. you tune out a lot of the headline risk. what are you picking, regardless what could happen overseas? >> well, we are moving from a defensive stand that we've had for the last couple of years and looking for growth. we see the green chutes, i know
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this is crazy, in america. so technology is a focus, industrials are a focus, and yes, even consumer discretionary is something that we're looking at. so we're hopeful and we think that the economy is going to continue to expand. david: bob, one beaten down sector recently that investors are getting into yesterday and today and the day before is energy, the energy sector is hopping right now and occidental petroleum is one of your picks, exciting things happening with the one particular energy company. tell us about it? >> they've undergone a restructuring, looking to sell a significant portion of middle east assets. we could see an announcement on that at any time. they've got a very good position in the permiant base in both conventional and unconventional production. they recently started up a huge natural gas project over in the
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united arab emirates called the al-hozen gas project. that's why we like occi, generating free cash flow in this environment and pay a solid dividend and should increase the dividend overtime. liz: you have texas instruments, and cvs, we showed your pick, we didn't see them. people listening on sirius xm, urban outfitters, sandisk. sandisk had a nice run-up but isn't that a commoditized business and depending on prices, you could really get hit here? >> that is an extremely volatile name, and they have gotten hit. theya were well above 100 earlier, in 2014, they've had some challenges, and that's why i'm suggesting that people take a look at this. they do have one thing that troubles us, they have an
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outstanding patent issue with another company, and this has to do with making a solid state drive. those are the things you would find in laptops and tablets as opposed to spinning disk drives. this is a much longer term holding than most investors are looking for, but i think it's a great opportunity, and you're right, it is at some point, a capacity sort of game. but take a look at it. david: kim, dan and bob, thank you very much, we will see dan, by the way, when the s&p futures close in just a moment. liz: big news, the president met with german chancellor angela merkel at the white house. the two leaders discussed the role of the u.s. in a whole bunch of arenas, particularly the escalating violence in ukraine. david: as we just heard that really affected the markets today. peter barnes from the white house with what they discussed and the press conference. peter? >> reporter: that's right, david and liz, and basically
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the president agreed to give chancellor merkel and her supporters more time for diplomacy to work out with the conflict in the ukraine in eastern ukraine with russia, and as you probably know, the chancellor and the president of france have proposed, trying to broker a deal between russia and the ukraine for a cease-fire, a new peace agreement that would include a demilitarized zone to get this settled diplomatically. she and the french president are meeting with russian president vladimir putin and ukraine's president poroshenko in minsk on wednesday. she says that is the deadline for trying to get a deal here, but if that fails, both the leaders here indicated that additional sanctions could have been in the offing. the president acknowledging that with her there's no military solution to this.
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ukraine can't beat russia, but he did say that he wants to make sure that providing ukraine with lethal weapons, with weapons for its defense remains an option on the table. >> if, in fact, diplomacy fails, what i've asked my team do is looking at all options. what other means can we put in place to change mr. putin's calculus? and the possibility of lethal defensive weapons is one of those options that's being examined. but i have not made a decision about it yet. >> reporter: the president said one thing he wants to be sure of if he moves forward with this option is that it wouldn't provoke a stronger response from the separatists in eastern ukraine or from russia itself. that's the big concern that merkel has here, that this would just escalate the conflict there and make it
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worse, but the president's critics on this mostly republicans in congress say he needs to supply these weapons right now, republican senator lindsey graham saying in a statement today, quote -- david and liz? liz: big argument here, and we're going to see what happens, peter, thank you very much. david: thank you, peter. she one of the most outspoken fed presidents ever in history. he's got a lot to say about policy, rates, the future of the u.s. economy and stirring a big debate about the federal reserve audit we've heard of. richard fisher, dallas federal reserve president is here. liz: plus, thousands of cars, clothes and electronics not getting to you because they can't be delivered as they sit in containers at west coast ports over a labor dispute. who are the winners and the
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losers in this? should you be investing now? david: and the big warning before you buy your next tv, have you heard about this? samsung could be recording what you say when you're in your living room. what does that mean for the consumer and could it hurt an already hurting samsung? at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.
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. liz: the s&p futures closed right now. back to dan in the pits of the cme. how do they look for tomorrow? >> tomorrow, i think it's time for many geopolitical shocks which i don't expect we'll get. tomorrow we have a small business optimism index, see what they're saying about the mood of the american consumer. liz: what you don't expect. you never know with the russian, dan, we'll keep an eye on it. dan, thank you, david, over to you. >> president of the dallas federal reserve bank for the past ten years, one of the most
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interventionist periods in the history of the federal reserve. he is one of the rare officials who speaks his mind frequently speaking out against his fed or the activism of the fed. for that reason he's going to be sorely missed by us when he resigns his position next month. before he goes, kind enough to talk about fed strategy and where we and he actually goes from here. in a fox business exclusive, proud to welcome richard fisher, president of the dallas fed. when do you leave the fed? >> midnight of march 19th. you have to measure in dog years, 70 years of service. [ laughter ] >> talk a little about what's happened particularly since the financial crisis in 2008, 2009. the fed had a zero rate policy, .25% or 0.25. it has grown from $800 million which is big enough frankly to
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4 $1/2 trillion, and then of course the fed has gone the actively involved in bank deregulation that i don't think we've seen since the depression. >> thanks to dodd-frank. david: the fed has been instrumental in make banks keep larger reserves, et cetera am the question is, has the fed gone too far in trying to affect our economy and in particular financial markets? >> well, you know my answer to that is i felt we went too far. put that in context. we went through the traumatic injury, the system failed. whether we or anybody else responsible for that, everything collapsed as you remember, and did what central banks do. we stepped into the breach, provided liquidity and the money market fund that failed. the first established in the country, commercial paper. basic financial ground to a halt. we stepped in. that's the right thing to do. you don't have money moving through the economy, you can't
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conduct business no matter what you do. david: it stayed there in the emergency mode. >> and we cut interest rates. david: unemployment way down. >> and cut interest rates to zero. i didn't want to go that far, it's a committee. i got outvoted. and we started buying, once you get to zero bound, the only way to put more money into the system, you have to buy things, we're only allowed by our license, u.s. treasuries or government agencies. we bought u.s. treasuries, mortgage backed bonds backed by sallie and freddie. i was in a minority, we now have a portfolio, $4.7 trillion. david: 4.7? i just looked at the last, it looked like 4.5. it's now 4.7. >> it will vary, the point is it's very large compared to before. what's happened? when we bought the bonds we pay
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depository institutions for the institutions for the bonds, they've taken that money and put it back on the books in federal reserve banks in form of excess reserves. $2.5 trillion. what does that mean? excess money that banks or depository institutions have are ready to credit customers. they are coming more lenient. they went through a traumatic shock. my worry there, david, my personal worry, it's like a peat bog fire, you don't see it, our successors at the fed, this will take years to work its way into the system will have to control the velocity it goes into the economy. if it goes in too fast, have you inflation. david: not only are you blunt in descriptions but you tend to think out of box for solutions. how do you get rid of $4.7 trillion? you clearly want to bring that
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number way down. how do you do it? do you let the bonds expire? actively sell them or what? >> very slowly would be the answer. now, again, i didn't want to go that far, it's a thoughtful group of people. that's what was decided. the real issue is the velocity of the money in the economy. we have a monetary base, we have the excess reserves, and that's only part of the liquidity in the entire economy because it's not 100% of the liquidity and cash in america is controlled entirely by the federal reserve. in the old days, it was just the banks and depositories. we have new instruments and private equity groups is so on. >> so the issue is -- >> how do we control that back into the economy? raise short-term rates. the interest on the excess reserves, we can create other little mechanisms to do that, or ultimately if we had to, we could buy back what we bought. so when we buy something, you pay for it, when you buy it back, you're taking money out of system.
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david: you brought me to another issue which is rates, we have to, before we break -- >> first before we sell something we can sell. that is last resort. we have to be careful here. the markets have moved, according to us, you know the old saying, you don't fight the fed. we have driven rates to historic lows. david: does the fed drive the market? >> the rates are driving lower, we're not buying anymore. the point is we have to be extremely careful, and if there is a sale of these instruments, you have to do it slowly over time. david: quickly on rates. there are a number of substantial individuals like warren buffett, for example, larry summers, jack welsh, all of whom who said recently, it would be a mistake to raise rates while the dollar is as strong as it is, to which you say what? >> look, i think we deal with a real economy and have to worry about what's coming down the pike. if we see glimmers of inflation which we don't see right now.
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the trim mean measurement is running between 1.6, 1.7% on 12 month basis. if we were to see employment continue to increase, we're getting much, much better on that front and see the wage price pressures, that should govern what we do with interest rates. they're thinking about corporate earnings, i fully understand that. i'm worried about what's best for the citizens of the united states. and the real thing is we don't want to rekindle inflation, we're not there, you know i'm a haushgs but we're not, there employment is better and better and better, and soon we'll reach a point wages start increasing and gradually ratcheting up with each passing year. they came in 2.1%, that's still not enough. it will come suddenly. david: will the fed use the value of the dollar as one of the indicators which will determine whether or not it raises rates. >> markets determine the value of the dollar, we don't intervene in that marketplace, it does impact us in net
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exports, it affects how much we can sell abroad, how expensive it. is it also helps our consumers because it's a lot cheaper. the way things are sourced for multiple sources, we're a consumption driven society. 70% of gdp comes from consumption. there's a balance there. i understand what they're saying. david: you can't consume unless you produce. >> well, but i think it's important. they have global operations, it hurts earnings. i understand what they're saying, there are benefits to it as well. and the old formula you learn in high school economics which is gdp, our protection, our gnp, output is the sum of consumption and net exports, there are benefits that come from a stronger dollar. david: we went through six minutes very quickly. sorry to use a formula. it was a high school formula. coming up, continue our conversation with dallas fed richard fisher, wait until you
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hear his response to senator rand paul's call. liz: alibaba looks to make a play in the smartphone market with a big new investment in tiny chinese hardware company. tesla stock hit the brakes falling nearly 10%. will earnings this week prove investors wrong or it could miss the mark? we will debate the tesla torrey. and it's not just for olympians, now anyone, including our own jeff flock can try luging. to test it out, we sent jeff to ride down the slippery track, he is so much braver than i. we'll go for the ride. do you want to pay for a ride like that? coming up.
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david: and back now with our exclusive conversation with richard fisher, by the way, justin want a clear answer from you -- just want to get a clear answer from you, are we going to
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see a rate hike this year? >> i would expect you'll see a rate sometime this year. how's that for accuracy? david: that's better than a lot of people, but would it be at the june or sometime in the summer -- >> i won't be there. i have advocated that we should move, we should have moved in march in anticipation of what i see coming with the economy. i've lost that argument, so, look, i'm very sensitive to their sensitivity which is they don't want to push the economy back having made this recovery, so it's a judgment call. i think the economy has recovered sufficiently, the pressure's beginning to build. i use a naval analogy, you don't stop a ship by putting on the brakes, you slow -- david: right. >> so there's a lag in monetary policy. we don't know how long the lag is. david: you said you think it's going to happen sometime this year. >> that's right. david: more specific than a lot of people. >> that's just my opinion. david: understood. a lot of your fans were disappointed about what you said about the federal reserve audit.
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>> right. david: which is getting a lot of traction in congress, pretty much a veto-proof majority in congress and with new senate, likely to pass. but you said who in their right mind would want congress to control monetary policy? to which a lot of people say, look, here is the constitution. within the constitution, article i of the constitution -- >> right. david: it says the congress has that right. so what do you say about that? it's right in the constitution itself. >> you know, one of bismarck, the iron chancellor's famous conversations was with his adviser, and he said, you know, mr. chancellor, when you create the rights bank, if you don't make them independent, they might become a political nuisance. well, guess what happened? the weimar republic. what happened in the 1970s, early '80s, '60s, '70s, '80s in the united states? no one ever days arthur burns did what was politically -- we
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know what the answer is. this is because the people on capitol hill, lower house, upper house for whatever reasons cannot do their own job. david but here's the problem, and i'm sorry, we're short on time, so we've got to jump in. rand paul and ohs would say -- others would say we are now in an extraordinary period where the fed has more of a portfolio than ever before, and we have to know specifically what's in there. i'm going to quote him now, he said once upon a time your dollar was as good as gold. do you know what it's background by now, he asked an audience in iowa, used car loans, bad home loans, distressed assets and derivatives. now, he may be long about that being in your portfolio, but we don't know because we haven't had a specific audit of the fed. >> i don't believe it. we are -- i'll be blunt. we are audited out the wazoo, okay? every federal reserve bank has a private auditor, we have an auditor of the system, we have our own inspector general. we are audited -- that's not
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what he's talking about. he's talking about politicizing monetary policy. and who else puts their balance sheet out on the net? no corporation in america does that. we do that. we put our income statement out on the net. we are a porous, visible entity. that's not what this is about, david. this is about interfering with the making of monetary policy. i respect the gentleman from kentucky, but he's wrong. david: okay. very quickly because we're almost out of time, but i've got to give you time to tell us what you are going to be doing next. [laughter] running for president? >> right, no -- i'm going to run away, i think is what i'm going to do. the one thing i am devoted to is financial literacy. we have a product at the dallas fed, you've never heard of it, building wealth. it's used in the school system on military bases, david county school, the -- dade county school, financial literacy, and that's one of my causes. i want to take the color out of money. i want to make sure, for example, in my community of south dallas, the poorest part of north texas, working with the mayor of to make sure that we
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raise them up to prosperity. and the best way is to start with financial literacy. we have something called building wealth, we made it interactive, we worked with one of the great entertainment companies pro bono in hollywood to make it interesting. i want that to be my legacy. i want to contribute something positive to society. david: be a great legacy. richard furber, from now until march -- fisher, from now until march 19th. >> the last few weeks. david: great to know you as ped president. liz? liz: terrific. samsung is warning, and you've heard about this maybe because there's a big outcry about it, its upcoming voice recognition-equipped smart tvs may end up listening to your conversations, both food and bad. -- good and bad. could this negative pr hit an already-ailing samsung pretty badly? plus, labor disputes slowing down port activity on the west coast. he said/she said, no matter
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whose fault it is, which companies could lose big, and are there any winners in this fight? stay tuned. we're battling that out with our panel. ♪ ♪
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♪ is it the insightful strategies and analytical capabilities that make edward jones one of the biggest financial services firms in the country? or is it 13,000 financial advisors who take the time to say thank you? 'night jim. gonna be a while? i am liz got a little writing to do. ♪ it's why edward jones is the big company that doesn't act that way. ♪ ♪ liz: food and flowers are rotting, and clothes can can't get to store shelf because a labor dispute slows down activity at ports all the way up and down the west coast. they're stuck in those containers. who's getting hit and who's
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benefiting, and can you make a little money off this? well, yeah, arguably a very tough situation. let's bring in tangent capital's bob wright. jason rotman and fox business' adam shapiro. gentlemen, every a lot -- you have a lot of scorched earth between the union members and the people who run the ports, either way, there's a way to make money. bob rice, how is it? >> airlines. a lot of the manufacturers, food distributers who are trying to get their stuff across the pacific island have to use the airlines. you've got to get there, you've got to get there, so the airlines are mopping up. liz: well, yeah. if you're apple and you're trying to get your ipads and iphone 6s in, you're going to switch right away, correct? jason, is there a winner and a loser too, conversely? >> sure, absolutely. i mean, bob, i completely agree with you, and i'd like to add to that comment with an actual specific pick based off of hard data. so a pick that i, that i kind of want to have people look at is
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ual which is the holding company for united airlines, obviously, one of the large airlines in america and the world. the reason why ual is a really interesting pick for in this fundamental situation is ual has the highest percentage of the air freight cargo business. so if you want to get into the airlines because of the situation, i think ual's your pick. and an interesting note to boot is that overall, even before this port closure started, the air cargo percentages increased by a fraction of 300% from last year, so this is an overall trend of water-based shipment to planes. it's interesting. liz: well, let's see if the prices come down on air cargo. adam, do you see winners or losers? >> i see winners, but you can't buy 'em. if there's a particular car that's an import that you really want and there starts to be a shortage of that vehicle, you're going to see the car dealers not negotiating the way they might have in the past. liz: and you could also argue that the losers are anybody who didn't have a plan b.
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ann taylor has been cited as a company, bob, that has inventory they're dying for, they didn't have a plan b to ship it by air. >> yeah. well, think about all the people who made those valuen type's boxes and don't very valentine's boxes, and if they don't get 'em in by this weekend -- liz: oh, my forbe, i hadn't even thought about that. the exports, the u.s. may be having trouble getting imports from china, but exports have not been an issue except for tesla. the company reporting earnings this wednesday, they're dying to get a bigger footprint in china. what should we expect? jason, tesla. >> well, the main thing to look for, and there's really three main things, okay? but i feel as far as moving stock price, you know, 5 or 10% up or down, i think the market's going look for the release date projection for the model x. now, tesla will tank, honestly i think, if the model x release date is pushed out farther. that's going to be just extraordinarily disappointing. now conversely, i think the
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market's going to hit the insane button and take tesla 0-60 in 3.2 seconds higher if the model x release date is actually pushed forward -- liz: i'm not hearing you say anything about making money. i believe they're expecting, adam, a loss of 31 cents. they have only ever shown a profit of one quarter but, okay -- >> they fudged that number. liz: the era, right? >> here's the deal, if you're going to buy this stock, ask where's the value? is how are you going to make money when they still are producing losses? they're trying to sell an electric car in an era of cheap oil that we can have this debate, but the fact is over the next six months oil's going to remain cheap -- liz: well, because, bob, the problem for tesla is not demand. it's supply. people want this car. it's a hot product. >> it's a very hot product, but i've got to agree with adam about one thing, the ceo of the company is telling you they're not going to -- >> timeout on a hot product. >> that's all you need to know. >> hey, liz?
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liz: yeah? >> it's a hot product with a very elite clientele. the average purchaser of the current tesla is over 50 years old and morning the 5% top earners and male. this is not a widely popular car with average americans. liz: well, let's see how they sell in china. that's -- >> they're not selling in china. liz: i guarantee you, they're setting up all kinds of charging stations. elon musk has a will, then he finds the way. up next, alibaba enters the smartphone market. should samsung, apple, lenovo, the chinese operators watch their back? david, we'll be talking about that in a second. david: all right, liz, here's something i'll bet you'll recognize, it's from the winter olympics. if you're daring enough, you could get a shot at the luge. jeff flock taking us for a ride straight ahead. and that measles outbreak is spreading. exactly what states have been hit and how they plan to hit back. that's coming next. ♪ ♪ startup-ny.
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liz: people get nervous when they her alibaba is going into their business. alibaba's making a move into the smartphone market. it bought a stake in a chinese smartphone maker. it's a minority stake in a small maker. who should watch their back with
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this move? we're back with our possible. bob rice right off the bat, i say to you, watch out. alibaba in the hardware business? >> yeah. scary stuff, especially if you're samsung. i think they're the ones in particular need to be worried about this in terms of the non-chinese companies. apple has more of a protected ecosystem. people buy apple phones because of lots of other things aside from just the fact of the physical hardware. but outside of china, i think samsung has got -- and they have other problems that we're going to discuss in a moment, so there's some issues here. liz: adam shapiro are, who should be looking over their shoulder when they hear alibaba is going into a small phonemaker that probably would give them a great assembly line? >> i think people who holdally baa pa stock might want to -- alibaba stock might want to question where are they going? yes, there are smartphones, and they're going to want cheap smart tonies -- smartphones, but people will be buying on mobile, and tear playing catch-up. they're not leading. liz: and let us remember the
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last web site that went into hardware, amazon with the fire phone. disaster, jason. >> you basically read my mind, that was astonishing. [laughter] literally, i'm not kidding. amazon is a company that is kind of an out of the box company that i'd like to bring up as a company that should be worried. i mean, first of all, amazon's pe ratio, as everybody know, is insane to use a word i used before. but they're losing money. alibaba has much better numbers than amazon. now, it's not going to happen overnight, but what if alibaba is the new global destination for commerce which really it wants to be? amazon could be in trouble, so i would say amazon needs to be worried. liz: a lot of lenovo and washington way phones are -- huawei phones or should, and somehow they're subjugated. it'll be interesting to see. now let's go over to samsung, bob. samsung warning customers, hey, you know what? we have this new smart tv coming. just so you know, it could
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record and transmit private conversations to a third party because it's a voice recognition tv. you guys, is this going to hurt the company's market share in the tv department where it's very strong? i have three samsung tvs in my very small house because i'm a little obsessed. jason? >> you know, not at all. the thing is, it's all about the buzz, right? it's all about what company is in the headlines, what company is on segments like this. unfortunately for samsung, it's samsung. honestly, i didn't install facebook's messenger app on my iphone because i didn't want to click yes to that insane agreement that it could record my voice at will, it could send pictures at will, so it's really not just samsung. liz: right, right. >> the truth is it's an industry-wide phenomenon that people are agreeing to. i don't think it's going to have a negative effect on samsung, it's the only company singled out. liz: you have got to press the opt-out button if you don't want that voice recognition. >> not so hard. liz: i don't think there's anything nefarious, they just want you to know it's got to be
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translated by some server. >> right. and, listen, when you swipe your credit card, the companies are keeping that day and selling it. this is just a different variation of that, and as long as you can -- if you're samsung, first, beautiful tvs. we saw you at ces with the curved -- liz liz oh, yeah, bend bl. >> the first company, whether it's samsung, sony or anyone else, the opt-out button, here's how simple it is, bingo. you've got a plus in your category can. liz: bob, does this hurt samsung or not? >> i think it does, and you need to be in front of these issues, not behind them. explain to people why are you asking for this? we want to give you better quality voice recognition. that's a simple answer. you don't want to have of the news all over the press that they're listening to your private conversations and transmitting them. it's a communications issue. liz: i don't want anybody hearing get me another s' mother. [laughter] s'more.
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david? david: the measles outbreak is spreading to three more state, delaware, michigan and nevada with an additional 19 more cases confirmed last week. it is now in 17 states including washington, d.c. with a total of 121 people infected since january 1st. the outbreak believed to have started to spread in disneyland in southern california december last year. the u.s. reported its highest number of measle infections in 20 years, there were 644 cases, liz. liz: well, that's alarming. well, parts of the northeast getting pounded by even more snow today. jeff flock, though, outside enjoying an incredibly fast-paced -- david: oh, my god can. liz: -- winter -- david: oh, no. >> i am in the only place in america where you can actually show up and get on an olympic luge! demystifying the luge and building an olympic sport, went we come -- when we come back! stay tuned!
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gerri: hi, everybody, i'm gerri willis. coming up on my show, an increasing number of americans choose to rent rather than buy their homes. why is it and what does it mean for the economy? that's just one of the big stories coming up on "the willis report" in just a few minuting. . . kind of like shopping hungry equals overshopping. "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do.
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at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. >> what are you doing with the extra money you have now that gasoline is much cheaper? well, people are spending cash on winter activities. but instead of spending it on
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skiing or snowboarding, how about trying luging. >> jeff flock. we just saw you -- you have to tell us, first of all, what it was like. it looks scary as hell. >> i'm going to show you what it's like. >> you're going to do it again? >> why not? this is a place where you can come without any experience. robin gave me a lesson. and they allow you to get on a luge -- sled darre -- and do it. they have very few injuries. i'll show you how it works. she taught me how to do an olympic start. you're grabbing on these handlebars. you launch yourself off. then you steer with your legs through these turns. get going about 40 miles an hour trying not to hit the sides, if you possibly can, and 40 miles an hour in a car not so bad, on a little piece of wood and metal, 40 miles an hour is a pretty good speed.
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you hit the pile-on at the end, and by god, you survive. i'll roll so i won't fall down again. >> there we go. that was brilliant. >> yeah, it's pretty fun. and jim, who is the executive director of the winter sports complex, lots of people do this. >> they do. they do. this is a pure michigan experience. >> why do you do this? no place in america let's people like me, some idiot, walk up and do it. >> well, you know, you show a lot of natural potential. yeah, no, this track is designed for beginners. >> this is an 850-foot track. it's made completely out of wood. those are the sleds there, you see. it's a tremendous experience. the only place in america where you can come and do it on a regular basis. >> you me it look easy. you are a natural, jeff. >> that was amazing. and the camera crew was right on
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you. >> from fbn to the olympic scene. >> didn't they do a great job? >> yeah, fantastic job. >> it's a lot of fun. come and try it. >> our intrepid jeff flock. >> i see a bronze medal. >> i sat down with richard fisher. asked him if the fed will raise rates this year. take a listen. >> i would expect that you will see a hike sometime this year. i have advocated that we had -- should -- we should have moved in march in anticipation of what i see coming in the economy. i've lost that argument. look, i'm very sensitive to their sensitivity, which they don't want to push the economy back. so it's a judgment call. i think the economy has recovered sufficiently. i know enable analogy. don't stop a ship by putting on the brakes. slow miles ahead of time. there is a lag in monetary policy. >> very difficult to replace
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that man. >> yeah. let's hope that his legacy continues. and, by the way, the rest of the interview, check it out. >> we hope you have a great evening. we'll see you back here tomorrow. meanwhile, the willis report is next. gerri: hello, everybody. i'm gerri willis, and this is the willis report. the show where consumers are our business. >> it's an orwellian nightmare. it comes with a privacy warning because of snooping on your personal conversations. >> federal government can be listening to what you're saying in front of that television in your own home without you knowing about it. >> robo callers are coming after you. they're pushing to change the law that keeps your cell phone off-limits to annoying and unwanted calls. another winter storm that slammed the northeast. boston to break more records as they face a new problem, what to do with all that snow? >> this is an actual giant pile of


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